Relief for Kenyans as ERC further lowers fuel prices

The Energy Regulatory Commission (ERC) has once again reduced its maximum pump prices in its mid-month review to reflect on the continued free-fall of crude prices in the international market.

In the latest review announced on Thursday, February 14, the price of Super Petrol drops by Ksh.4.12 and will now retail at a new price of Ksh100.09 in Nairobi.

Motorists using diesel are, however, the biggest beneficiaries as they will now spend Ksh.6.28 less to buy a litre of the commodity at Ksh95.96 in Nairobi.

Kerosene, which is commonly used by low income households, will drop by Ksh.5.28 per litre to retail at Ks.96.50.

The regulator attributes the changes to a drop in the in the global market.

“The changes in this month’s prices are as a consequence of the average landed cost of imported Super Petrol decreasing by 7.23% from US$590.92 per ton in December 2018 to US$548.20 per ton in January 2019,” reads a statement from the ERC.

Since the implementation of a 16% VAT on petroleum products in September last year, the price of fuel has dropped by an average of Ksh.15 for the three main products.

This has however not had a trickle down effect to consumers who still pay high fares.

The new prices will run from 14th February midnight to 14th March midnight this year when the regulator will announce the next review.